Amazon Buys Ring for More Than $1 Billion

Amazon to acquire Ring video doorbell maker, cracking open the door in home security market

Amazon Key already requires customers use an Amazon-compatible smart lock and mount one of the company's own Cloud Cams near the door.

Amazon said the deal would allow it to help customes keep their homes "safe and secure", while Ring said Amazon's ownership would allow it to "achieve even more" in home security. "We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods", the statement said.

Amazon on Tuesday said that it had acquired the smart home products maker Ring. Amazon are expected to allow Ring to run as per usual but with the added integration of Amazon services.

Ring started back in 2013 when Jamie Siminoff went on the ABC's "Shark Tank" to pitch his company Doorbot. Imagine if with the new acquisition, Amazon Prime members could get the service bundled in.

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A Ring spokesperson confirmed the deal in a statement to CNBC.

Amazon paid more than $1bn to acquire Ring, with the company's line-up likely to help bolster the retailer's existing offerings - including Amazon Key and Amazon Cloud Cam. Ring now offers an optional paid subscription for a Video Recording Plan. As well as the video doorbell that Ring is most well-known for, the company has a suite of security products including cameras and an alarm system - although the latter is now on hold due to legal issues.

Amazon and Ring declined to comment on the terms, which were reported by Reuters, citing an unnamed source.

Amazon has recently focused extensively on just Alexa, the highly popular home speaker that is also an artificial intelligence device with the ability to answer questions as well as make purchases on Amazon.

Troubled Arizona loses 98-93 to Oregon
Is the season toast? It now looks like this most-recent report will force Miller from coaching the Wildcats - at least for now. Alabama athletic director Greg Bryne had been the AD at Arizona prior to taking the job with the Crimson Tide past year .

Amazon has just made a deal that steps up its battle with Google to lead the connected home space.

Rings recent product lines have included smart cameras as well as innovative smart security lights. The smart doorbell rings users' tablets or smartphones through an app that lets them see audio and video and talk to the person at the door, wherever they are.

Ring was initially conceived to keep neighborhoods safe by letting people have access to affordable home security tools for those who can not afford the more extensive and expensive surveillance systems.

Pakistan not on FATF's terrorist financing watch-list, public announcements reveal
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